Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I secured a Possession Order in October, the tenant moved out in the final hour, but has not paid the monies owed and adjudged on the possession order standing at £2755.48. The background of this individual is very complex, he is a very wealthy man, but none of it is straight forward and, never having been in this situation before I am unsure how best to proceed and could use some advise please. His circumstances briefly are;
1. Currently living in rented or with girlfriend. Address can be obtained but he has no real possessions to speak of and is rarely at home (always in pub – landlord happy for bailiffs to attend premises)
2. 4wd Vehicle worth approx 2-4k, possibly bought in his company name and either way he can argue a tool of trade as a civil engineer.
3. Recently inherited – 3 bed house (currently empty)
Isle of man registered company which owns 4/5 shops and 6+ flats (all fully let)
Company was approx £50,000 in credit on inheriting, individual is now sole director, estate is still believed to be in probate over company assets as other family members have certain rights (looong story!)
4. Owns 1 Bed flat, fully mortgaged and tenanted at £380 pcm – it is possible this tenants payments go direct to mortgage company.
5. Self employed in full time work
6. Bank account was £1500 in credit at time of hearing – other debts have taken over another bank account, but i believe this one is still untouched by court orders.
Any suggestions and process suggestions gratefully appreciated
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